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This paper aims to investigate how organization capital influences different forms of corporate risk. It also explores how the relationship between organization capital and risks varies in the cross-section of firms.

To test the hypothesis, this study employs the ordinary least squares (OLS) regression model using a large sample of the United States (US) data over the 1981–2019 period. It also uses an instrumental variable approach and an errors-in-variables panel regression approach to mitigate endogeneity problems.

The empirical results show that organization capital is positively related to both idiosyncratic risk and total risk but negatively related to systematic risk. The cross-sectional analysis shows that the positive relationship between organization capital and idiosyncratic risk is significantly more pronounced for the subsample of firms with high information asymmetry and human capital. Moreover, the negative relationship between organization capital and systematic risk is significantly more pronounced for firms with greater efficiency and firms facing higher industry- and economy-wide risks.

The findings have important implications for investors and policymakers. For example, since organization capital increases idiosyncratic risk and total risk but reduces systematic risk, investors should take organization capital into account in portfolio formation and risk management. Moreover, the findings lend support to the argument on the recognition of intangible assets in financial statements. In particular, the study suggests that standard-setting bodies should consider corporate reporting frameworks to incorporate the disclosure of intangible assets into financial statements, particularly given the recent surge of corporate intangible assets and their critical impact on corporate risks.

To the best of the authors' knowledge, this is the first study to adopt a large sample to provide systematic evidence on the relationship between organization capital and a wide range of risks at the firm level. The authors show that the effect of organization capital on firm risks differs remarkably depending on the kind of firm risk a particular risk measure captures. This study thus makes an original contribution to resolving competing views on the effect of organization capital on firm risks.

This paper aims to analyse the different requirements of Practice Direction 15.10 (which governs the process of family mediation in Hong Kong) and Practice Direction 31 (which governs the process of general mediation in Hong Kong), and to highlight the need to incorporate the spirit of family mediation into legislation to better protect children’s interest in a family dispute.

The paper reviews and compares the content on Practice Direction 15.10 and Practice Direction 31 issued by Chief Justice of the Hong Kong Court of Final Appeal, and adopts interpretative and analytical approaches to evaluate their impact.

In an effort to promote parental responsibility-based negotiation in divorce proceeding, a missed opportunity in enacting the Children Proceedings (Parental Responsibility) Bill in 2015 might be a blessing in disguise as it offers another chance for policy makers to consider how to direct parties to negotiate and communicate, to seek and benefit from professional guidance on a continuous basis, and to seek alternative channels to resolve disputes other than the court room. The policy and the law advocating a switch from a “rights-based” to “responsibility-based” approach in handling children’s matters should be revisited by incorporating the spirit of family mediation into legislation.

Analyses are conducted through direct contextual review and documentary research. This paper conducts literal analysis of court guidance and unveils policy implications for the general public. It would be of interest to judicial officers, scholars and government officials concerning children’s rights and parental responsibility in divorce proceedings.

Literature on psychology highlights four traits that shape an amoral and antisocial personality: Machiavellianism, narcissism, psychopathy and sadism. Together, these personality traits form the Dark Tetrad. In this study, the standard intertemporal utility maximization model is reassessed from the point of view of a representative economic agent endowed with the Dark Tetrad personality traits.

The approach followed in this paper consists of identifying how each of the Dark Tetrad traits might be logically associated with the dynamic utility problem, as well as exploring, in the context of the model, the implications, for consumption and utility, of admitting the presence of such traits in individuals’ personalities.

It is found that, typically, dark personalities penalize consumption growth, even when such traits are interpreted directly and positively contributing to the utility of the agent. It is also found that in economies with two or more interacting agents, the dark traits might have a mutually destructive nature.

Economics is going through a smooth revolution in the direction of becoming an eminently behavioral science. Most of the traditional economic models, based on the idea of the hyper-rational agent, are being replaced or complemented by a different view of the homo-economicus, in which, among other things, personality matters. This paper offers a novel contribution in this direction.

Information and communication technologies are being increasingly used across various sectors including the tourism industry. However, equitable access to online information remains a significant challenge, especially for people with disabilities (PwD). There is a pressing need for research into the accessibility of the internet to promote social equality. This study aims to identify patterns in both the technical accessibility and the content information related to accessibility and disability that is available on the official websites of leading global tourist destinations.

A cluster analysis assessed the technical accessibility of the websites, while a principal component analysis evaluated the content information concerning accessibility and disability.

There has been a substantial improvement in the technical accessibility of tourism websites over that described in earlier studies. There have been no advances in content information on accessibility and disability, which continues to be very heterogeneous and dispersed.

This evaluation of the technical accessibility and content related to accessibility and disability on tourism websites provides a basis for developing strategies to eliminate barriers that PwD encounter in accessing tourism information. To augment the efficacy of big data inputs, it is imperative to homogenise variables associated with technical access and content information on accessibility. Such standardisation will improve the functionality of algorithms critical to the Internet of Things and artificial intelligence technologies. These enhancements are likely to spur innovations that bridge the inequality gap and promote environments where technology serves as a cornerstone of social inclusion and equality.

信息和通信技术在包括旅游业在内的很多行业的应用越来越广泛。 互联网是游客不可或缺的工具, 但并非每个人（在本研究中为残疾人、PwD）都能以相同的方式获取可用信息。有必要对无障碍使用互联网进行研究, 以促进社会平等。本研究旨在识别全球主要旅游目的地官方网站的技术可及性以及网站内容上有关可及性和残疾信息的规律。

聚类分析评估了网站的技术可及性, 主成成分分析评估了网站的可及性和残疾的相关内容信息。

与早期研究中描述的相比, 旅游网站的技术可访问性有了实质性的改善。关于无障碍和残疾的内容信息没有任何改善, 仍然非常异质性和分散性。

本研究对旅游网站的技术可及性以及有关可及性和残障人士的内容信息的评估为制定以消除残疾人旅游所面临的障碍的未来战略奠定了基础。为了提高大数据输入的有效性, 技术可及性和可及性内容信息相关的变量必须标准化和同质化。这将提高关键算法的效率,以增加物联网和人工智能技术的功能。这些改进可以促进创新, 缩小不平等差距, 并营造让技术成为社会包容和平等基石的环境因素。

Las tecnologías de la información y la comunicación (TIC) se utilizan cada vez más en diversos sectores, incluido el turístico. Sin embargo, el acceso equitativo a la información online sigue siendo un reto importante, especialmente para las personas con discapacidad. Existe una necesidad acuciante de investigar la accesibilidad de Internet para promover la igualdad social. Este estudio identifica patrones en la accesibilidad técnica y en el contenido de la información sobre accesibilidad y discapacidad disponible en las páginas web oficiales de los principales destinos turísticos mundiales.

Un análisis de conglomerados evaluó la accesibilidad técnica y un análisis de componentes principales analizó el contenido de la información sobre accesibilidad y discapacidad en los sitios web.

Se constata una mejora sustancial en la accesibilidad técnica de las páginas web de turismo con respecto a los resultados de estudios anteriores. No ha habido avances en el contenido de la información sobre accesibilidad y discapacidad, que sigue siendo muy heterogénea y dispersa.

Esta evaluación de la accesibilidad técnica y del contenido de la información relativo a la accesibilidad y la discapacidad en las páginas web turísticas proporciona una base para desarrollar estrategias que eliminen las barreras con las que se encuentran las personas con discapacidad para acceder a la información turística. Para mejorar la eficacia de las entradas de big data, es necesario estandarizar las variables relacionadas con la accesibilidad técnica y el contenido de la información sobre accesibilidad. Esta normalización mejorará la funcionalidad de los algoritmos fundamentales para el internet de las cosas y las tecnologías de inteligencia artificial. Es probable que estas mejoras impulsen innovaciones que reduzcan la brecha de la desigualdad y promuevan entornos en los que la tecnología sirva como piedra angular de la inclusión social e igualdad.